Ringgold, Tennessee Property Taxes
The median property tax rate in Ringgold, TN is 0.63%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Ringgold, the typical annual property tax bill amounts to $126, significantly below the national median of $2,690. Property taxes in Ringgold are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ringgold's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ringgold or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ringgold, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Ringgold Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ringgold with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ringgold to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ringgold, Tennessee
Property taxes in Ringgold, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ringgold is 0.63%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Ringgold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ringgold estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ringgold's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 30736 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Ringgold provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ringgold Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ringgold, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30736 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Ringgold, Tennessee
In Ringgold, Tennessee, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Ringgold are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ringgold helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 30736, both reporting a median tax bill of $126.
Average Ringgold Assessed Value
$20,000
Average Polk County Assessed Value
$48,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ringgold, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30736 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
Source: Ownwell
Property Tax Bills Across Ringgold, Tennessee
In Ringgold, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $20,000 in Ringgold, homeowners can expect a median tax bill of $126. This figure is consistent across various percentiles, indicating a stable tax environment in the area. Several factors influence the assessed value, including property size, location, and condition. These assessments are periodically updated to reflect changes in the market and property improvements. For homeowners, this means that any increase in their property's market value could lead to a higher tax bill, while a decrease might lower it. Compared to the national median property tax rate of 0.99%, Ringgold's tax rate results in relatively low tax bills, making it an attractive area for property owners looking for affordability.
Average Ringgold Tax Bill
$126
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ringgold, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30736 | $126 | $126 | $126 | $126 | $126 |
Source: Ownwell